Question 4 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Posted by By Kuljeet Singh 5 Min Read July 13, 2024
Question 4 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1
Question 4 Chapter 9 of +2-Part-1 - USHA Publication 12 Class Part - 1

Question 4 Chapter 9 of +2-Part-1

4. (Issue at Premium/Journal/Balance Sheet) Aurangabad Mills Ltd. Issued Rs. 5,00,000,6% Debentures of Rs. 500 each at a premium of 5%. The amount was payable as follows:
On application Rs. 100
On allotment Rs. 250(including premium)
On first call Rs. 175.
The company received applications for 1,020 debentures and allotment being made to the applicants of 1000 shares. Excess amount was refunded.
Give journal entries and show the balance sheet.

The solution of Question 4 Chapter 9 of +2 Part-1: –

Solution of Questions 1 2 3 & 4 Issue of Debentures Chapter 9 Accounts Part B class 12 PSEB Day 193
Watch this video on YouTube.

Journal
Date   Particulars
 L.F. Debit Credit
  Bank A/c Dr.   1,02,000  
  To Debenture Application A/c       1,02,000
  (Being app. Money received )      
         
  Debenture Application A/c Dr.   1,02,000  
  To 6% Debenture A/c     1,00,000
  To Bank A/c     2,000
  (Being transfer of app. Money on 1,000 debentures & refund of amount on 20 app.)      
         
  Debenture Allotment A/c  Dr.   2,50,000  
  To 6% Debenture A/c     2,25,000
  To Securities Premium Reserve A/c     25,000
  (Being allotment amount transferred to debentures & premium A/c)      
         
  Bank A/c Dr.   2,50,000  
  To Debenture Allotment A/c     2,50,000
  (Being allotment money received )      
         
  Debenture First & Final Call A/c (1,000 X 30) Dr.   1,75,000  
  To 6% Debenture A/c     1,75,000
  (Being first & final call money due )      
         
  Bank A/c Dr.   1,75,000  
  To Debenture first & final call A/c     1,75,000
  (Being first & final call money received )      
         

Aurangabad Mills Ltd. Balance Sheet Schedule III (Part I)

Sr. No. Particulars
 Note No. FIG. RELATING TO CURRENT REPORTNG PERIOD FIG. RELATING TO PREVIOUS REPORTNG PERIOD
I Equity & Liability      
  Shareholders fund      
  Reserve & Surplus 1 25,000  
  Non current Liabilities 2 5,00,000  
  Current Liabilities      
  Total   5,25,000  
II Assets      
  Non -Current Assets
     
  Current Assets
     
  Cash & Cash equivalent
     
  Cash at bank
  5,25,000  
  Total   5,25,000  

Note 1:- Reserve & Surplus

Particulars
 Current year Previous year
Secruity Premium 25,000  
Total 25,000  

Note 2 :- Non – Current Liabilities

Particulars
 Current year Previous year
5 % Debentures    
1,000 Debentures of ₹ 500 each 5,00,000  
Total 5,00,000  

It all about Question 4 Chapter 9 of +2-Part-1, If you have any problem please comment below.

Issue of Debentures from the point of view of Redemption

End of Solution

Check Out the Solution of all questions of this chapter:

The solution to all questions of Chapter No. 9 – Company Accounts (Issue of Debentures) Class 12 Usha Publication – 2024 is shown as follows, click on the image of the question to get the solution.

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Question 1 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 2 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 3 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 4 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 5 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 6 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 7 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 8 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 12 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 13 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 14 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 15 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 16 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 17 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 18 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 19 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 20 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 21 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 22 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 23 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 24 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 25 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 26 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Question 27 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 28 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 29 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 30 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 32 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

Question 33 Chapter 9 of +2-Part-1 – USHA Publication 12 Class Part – 1

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Chapter-Wise Solution of Usha Publication Accountancy – Part 2 Class 12 – Session 2024-25 as per the PSEB curriculum

Check out Solutions to all questions of the every chapter shown as under. The Solution of Accountancy – Part 2 Class 12 – Session 2024-25 is provided as per the new book published by Usha Publication.

Chapter No. 8 – Company Accounts (Share Capital)

Chapter No. 9 – Company Accounts (Issue of Debentures)

Chapter No. 10 – Company Accounts (Redemption of Debentures)

Chapter No. 11 – Financial Statements of a Company

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Chapter No. 12 – Financial Statement Analysis

Chapter No. 13 – Tools of Financial Statement Analysis- Comparative and Common Size

Chapter No. 14 – Accounting Ratios

Chapter No. 15 – Cash Flow Statement

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